brisk_book
First-time buyer
Completion was a relief, but the last week of paperwork was the part I had underestimated. I have now bought my first property, a new-build flat in Lisbon, following multiple unsuccessful offers and a longer-than-planned document stage.
The main practical lesson was to keep a larger cash balance after closing. Moving costs and items that had to be sourced locally added up quickly. I also found it useful to assign every outstanding task to a named person and confirm the expected date, rather than assume the lender, seller and other parties were coordinating among themselves.
The earlier failed bids were not entirely lost time. Each one made my budget and acceptable compromises clearer.
What surprised others during their first completion? I am particularly curious about lender delays, inspection findings, fees, coordinating the move and whether the repair reserve proved sufficient.
The main practical lesson was to keep a larger cash balance after closing. Moving costs and items that had to be sourced locally added up quickly. I also found it useful to assign every outstanding task to a named person and confirm the expected date, rather than assume the lender, seller and other parties were coordinating among themselves.
The earlier failed bids were not entirely lost time. Each one made my budget and acceptable compromises clearer.
What surprised others during their first completion? I am particularly curious about lender delays, inspection findings, fees, coordinating the move and whether the repair reserve proved sufficient.